Section 118: To frame and enforce directives

1) The Board may, subject to this Act and the Rules framed under this Act, frame and enforce directives on the following matters for regulating transactions of securities;

(a) On securities registration and issuance permission,

(b) On securities issuance and sales arrangements,

(c) On securities allotment,

(d) On professional ethics,

(e) On other matters relating to the regulation of transactions of securities.

(2) It shall be the duty of all the concerned to abide by the directives framed by the Board pursuant to sub-section (1).